Corrections Services sells service plans for commercial computer maintenance. The price for each plan is...
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Accounting
Corrections Services sells service plans for commercial computer maintenance. The price for each plan is $1,360 per year, paid in advance. On October 1, 2016, a service plan was sold to a new customer for cash, and the plan covers the period October 1, 2016 to September 30, 2017. Adjusting entries are made quarterly. Which of the following is the correct entry for the first adjustment?
A. Unearned Revenue 226,66 Service Revenue 226,66 B. Service Revenue 226,66 Unearned Revenue 226,66 C. Service Revenue 340 Unearned Revenue 340
D. Unearned Revenue 340 Service Revenue 340
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